chinadotcom corporation, an integrated enterprise software and mobile applications company in China and internationally, announced today the appointment of Mr. Rudy Chan as Chief Executive Officer of chinadotcom Mobile Interactive (CDC Mobile), a newly formed wholly-owned subsidiary of chinadotcom.
His current position as CEO of hongkong.com Corporation (hongkong.com), an 81%-owned subsidiary of chinadotcom, will be succeeded by Mr. John Xiao, currently Chief Executive Officer of Newpalm (China) Information Technology Co., Ltd. (Newpalm) and Executive Director of the hongkong.com board.
In December 2003, chinadotcom announced its intention to reorganize its mobile and portal unit as a wholly-owned subsidiary, CDC Mobile, and register an offering of CDC Mobile's American Depositary Shares under the Securities Act of 1933, as amended. The purpose of the intended offering is to fund the operations of CDC Mobile following its reorganization as an independent company holding chinadotcom's assets and business that provide mobile services and applications, advertising and interactive media and Internet services. The offering is expected to commence in the first half of 2004, subject to SEC effectiveness and the receipt of all necessary approvals.